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03-16-2008, 10:51 PM | #1 |
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Holy ****! The economy is going in the dumper RIGHT NOW
I just turned on the TV and saw the Fed and JP Morgan had to move to save Bear Stearns. JP Morgan bought Bear Stearns in an emergency move for $2/share. $2!!!!!!!!!!!!! It was trading at $30 on Friday.
Dow, NASDAQ and S&P 500 futures are all down substantially. The Dollar is plummeting vs. the yen. It is being reported that somewhere between 10-25% of mortgages in major banks involved with sub-prime lending are in a repo status (pre-foreclosure/foreclosure). The Bear Stearns loss is a multi billion dollar loss for it's investors, and is the second major bank the Fed has had to save in the last two months. Drop your socks and grab your cocks because ****'s about to be all effed up.
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03-16-2008, 10:52 PM | #2 |
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recession for the next 6 months or so till this **** blows over.
and of course it has to happen when I finally have a bunch of cash sitting in ING becoming worth less and less |
03-16-2008, 10:53 PM | #3 |
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I am tempted to horde my cash, but it is declining in value by the day and also only worsens the overall economy. I guess I'll go blow it on strippers, which would probably yield a more rewarding return than the other standard options.
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03-16-2008, 10:54 PM | #4 |
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03-16-2008, 10:54 PM | #5 |
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well, when we get our Dubbya checks, I suppose we can use all of it to buy a case of beer to drown our sorrows
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03-16-2008, 10:56 PM | #6 |
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it's okay. they'll just print some more money and fix everything.
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03-16-2008, 10:57 PM | #7 |
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The End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!the End Times Are Nigh!!
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03-16-2008, 10:57 PM | #8 | |
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Say what you want about individuals being idiots signing ARMS or not, we're all going down which is exactly why this bull**** needs to be stopped. So, everyone go ahead and pull the Republican lever again. it can only get better |
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03-16-2008, 10:57 PM | #9 |
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03-16-2008, 10:58 PM | #10 |
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03-16-2008, 10:58 PM | #11 | |
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Quote:
Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? Are you retarted?? This is some bad ****. When a bank that big goes down there's a real problem. |
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03-16-2008, 10:59 PM | #12 |
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03-16-2008, 10:59 PM | #13 |
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03-16-2008, 10:59 PM | #14 | |
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03-16-2008, 10:59 PM | #15 |
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03-16-2008, 10:59 PM | #16 |
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Yea, I saw how JP bought up Stearns, but I totally didn't get how they could buy them for only $2/share when just this past week it was going for more than 10x that amount. How the hell does that work????
(in 5 years time when this mortgage mess is finally cleared up, this buy-out of Stearns is gonna be seen is a massively profitable deal) |
03-16-2008, 11:00 PM | #17 |
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we need a war that might work, quick.
they got oil in tibet? |
03-16-2008, 11:00 PM | #18 | |
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This thread is pointless plse /urself |
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03-16-2008, 11:00 PM | #19 | |
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03-16-2008, 11:00 PM | #20 |
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Untrue. The Fed is stupid and lowered the discount rate tonight in an emergency move part of the Bear Stearns buy up.
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03-16-2008, 11:01 PM | #21 |
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Ouch - the Asian markets are down ~5%
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03-16-2008, 11:01 PM | #22 |
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03-16-2008, 11:01 PM | #23 |
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03-16-2008, 11:02 PM | #24 | |
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That makes for good accounting but bad economics, times of growth; which typically implies govt surplus, should be used to reel in the dollar and pay off debt...Think of the government and the economy as a teeter-totter; the government can "help" balance the good times and the bad times. Roy |
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03-16-2008, 11:02 PM | #25 |
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